The JVHP is targeted towards organisations that have resources to contribute to the development of rental accommodation options for people on low incomes. In a typical arrangement the organisation provides the land and some capital, whilst the Department of Housing and Works contributes to the construction of the properties. Other arrangements can be made between parties through negotiation. Because both parties in a joint venture make a substantial capital contribution, each has an equity stake in the assets. Other features of the JVHP include:
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Joint tenancy allocations process
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Partner organisation retains all rental revenues and takes full responsibility for tenancy and property management
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Standard term of JV agreement is 25 years
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Title to the property typically rests with the organisation
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Open a PDF copy of the Community Housing Proposal Form (57kB). |
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Open a PDF copy of the Joint Venture Agreement (60kB). |
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